Opportunities for a Sharia-Based Free Trade Agreement Within the Framework of Multipolarity and BRICS Economic Integration: A Systematic Literature Review
DOI:
https://doi.org/10.37812/aliqtishod.v14i2.2161Keywords:
BRICS, Free Trade Agreement, MultipolaritasAbstract
The development of multipolarity and the strengthening of BRICS economic integration have encouraged the emergence of various alternative forms of international trade cooperation beyond the conventional multilateral trading system. However, studies on the opportunities for a Sharia-based Free Trade Agreement (FTA) within the BRICS framework remain limited. This study aims to analyze the opportunities for a Sharia-based FTA within the context of multipolarity and BRICS economic integration using a Systematic Literature Review (SLR) approach. The study adopted the PRISMA 2020 guidelines by conducting a literature search through Google Scholar, ScienceDirect, and Scopus. Based on the processes of identification, screening, eligibility assessment, and inclusion, seven articles published between 2014 and 2024 met the established criteria and were analyzed descriptively through thematic synthesis. The findings indicate that the strengthening of BRICS economic capacity through increased trade and investment, the establishment of the New Development Bank (NDB), the expansion of BRICS+ membership, and the growing economic cooperation among developing countries provide conceptual opportunities for the development of a Sharia-based FTA. Furthermore, the characteristics of BRICS cooperation demonstrate conceptual compatibility with the principles of Islamic economics, including justice, cooperation, and public welfare (maslahah). Nevertheless, the reviewed literature does not provide explicit discussion or evidence of the implementation of a Sharia-based FTA within the BRICS framework. This study contributes conceptually by offering a perspective on the potential integration of Islamic economic principles as an alternative normative foundation for the development of a BRICS Free Trade Agreement amid the increasingly multipolar global economic landscape.
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